Investment scam cons 16 out of $540,000

Investment scam cons 16 out of $540,000

TAIPEI - The Criminal Investigation Bureau (CIB, 刑事局) recently warned Taiwanese of a recent investment scam that has already conned more than 16 victims out of a total of NT$13 million (S$540,150).

In a released statement, the CIB said the bureau has busted a number of investment fraud cases during the past seven months.

One of the most recent cases occurred in New Taipei City when a female victim surnamed Chang was defrauded of more than NT$1.5 million.

According to the CIB, the alleged fraudster, who identified himself as Chuang, became Facebook friends with Chang in March. The two gradually became intimate friends over the Internet.

Chuang invited Cheng to join an investment proposal, promising that the latter would receive 20 to 30 times profit in return, the CIB said.

The alleged fraudster persuaded the victim to wire him a total of NT$ 1.5 million into a Hong Kong account over the past few months.

Similar cases of investment fraud have been reported with a total of 16 cases recorded between January and July this year. The majority of victims were women between 30 and 50 years old, the CIB said.

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